MIRA collects MVR 390.57 as revenue in October 2020

MIRA collected MVR 390.57 million as revenue in October 2020. This is a decrease of 57.9% compared to the same period last year.

The collection is lower than October 2019 due to the impact of the Covid-19 pandemic. The decrease in tourist arrivals, resulting in decline in economic activity and tax collection from tourism sector, led to the decline in collection of major taxes such as GST and Green Tax.

The greatest share of the revenue collected for October 2020 was from GST with MVR 247.42 million or 63.3% of total revenue. The second largest contributor was Income Tax (MVR 52.39 million or 13.4%). Other significant contributors include BPT (MVR 20.32 million or 5.2%), Residential Permit (MVR 18.54 million or 4.7%), Vehicle Annual Fee (MVR 9.43 million or 2.4%) and other taxes and fees (MVR 42.56 or 10.9%).

Out of the revenue collected in October 2020, USD 4.68 million constitutes the dollar collection. 

 

 

10 Nov 20